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1901 Magnolia Ave, Long Beach, CA 90806
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1901 Magnolia Ave Long Beach, CA 90806

$920,000 Sold Price as of 09/18/2019
  • 4 Beds
  • 3 Baths
  • 2,180 Sq.Ft.
Sold
$920,000 Sold Price as of 09/18/2019 Refinance Your Mortgage
Map preview of 1901 Magnolia Ave, Long Beach, CA 90806

Property Overview: 1901 Magnolia Ave Long Beach, CA has 4 bedrooms, 3 bathrooms, 2,180 living square feet and 7,900 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This renovated tri-plex in the Wrigley Area is a great investment, with over $125,000 in verifiable capital improvements. The property consists of a front house (2 bedrooms, 1 bath, front and rear yard (with a large patio cover) and a detached 2-car garage. The rear duplex consists of two 1 bedroom, 1 bath units, each with a private, enclosed backyard, with washer / dryer hookups, and two 1-car garages. The duplex has been 100% renovated - new roof, new windows, new electrical service, new kitchens, new baths, new flooring, light fixtures, ceiling fans, and low maintenance landscaping and irrigation. The front house renovations include: new roof, new electrical service, new windows, new exterior paint, new back patio cover, and new low maintenance landscaping and irrigation. The duplex tenants are both on 1 year leases (one expires in Sept '19 and the other in November '19), while the front house tenant is month-to-month. A solid performing rental property for investment buyers or for owner-occupant to live in the front house and collect strong rents from the duplex to lower your overall payment (with a 10% down your share of the mortgage would be less than $1,175 per month for a 2 bedroom house!). Stop renting and own your own property! For investors, the property produces a 4.2% cap rate on actual rents and 5.5% on proforma rents. Added bonus - the new Long Beach tenant relocation ordinance doesn't apply to this building since it is less than 4 units!

Listed by William Smith | BRE #01431853 | Bryant Drive Properties, Inc.
Last checked: 3 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 124

Home details

Lot Sq. Ft
7,900
HOA Dues
$0/mo
Year built
1938
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19070074
City
Long Beach
County
Los Angeles
Time on Site
1520 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Leased Units: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $24,000
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $16,800
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $15,600
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $56,400
  • Net Operating Income: $37,977
  • Gross Operating Income: $54,708
Annual Expense Breakdown
  • Total Operating Expense: $16,731
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $10,788
  • Trash: $300
  • Gardener: $1,200
  • Insurance: $1,188
  • Maintenance: $975
  • Water/Sewer: $780
  • Other Expenses: $1,500
  • Other Expense Description: turnover

Property Details for 1901 Magnolia Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • In Kitchen, Outside
Room Information
  • Flooring: Laminate, Tile
  • All Bedrooms Down
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Asphalt
  • Has Fence
  • Wood
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 7202042025
  • Year Built Source: Assessor
  • Architectural Style: Traditional
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Wrigley Area (WR)
  • Directions: PCH to Magnolia, head north, turn left on 19th St
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Long Beach Agent

Sale History for 1901 Magnolia Ave

Last sold for $920,000 on September 18th, 2019

  • September, 2019

  • Sep 18, 2019

    Date

    Sold

    CRMLS: PW19070074

    $920,000

    Price

  • Sep 6, 2019

    Date

    Pending

    CRMLS: PW19070074

    $895,000

    Price

  • Aug 5, 2019

    Date

    Active Under Contract

    CRMLS: PW19070074

    $895,000

    Price

  • Jun 27, 2019

    Date

    Price Change

    CRMLS: PW19070074

    $895,000

    Price

  • Apr 1, 2019

    Date

    Active

    CRMLS: PW19070074

    $899,000

    Price

  • September, 2019

  • Sep 18, 2019

    Date

    Sold (Public Records)

    Public Records

    $920,000

    Price

  • June, 2018

  • Jun 27, 2018

    Date

    Sold

    CRMLS: PW18116499

    $658,000

    Price

  • Jun 6, 2018

    Date

    Pending

    CRMLS: PW18116499

    $649,900

    Price

  • May 17, 2018

    Date

    Active

    CRMLS: PW18116499

    $649,900

    Price

  • Listing provided courtesy of CRMLS

    Hurry for this excellent Wrigley area Triplex. This Multi-family property in Long Beach feels and appears as two separate properties with 3 units in 2 separate buildings on one oversized corner lot. Features a front house facing Magnolia Ave. and a detached duplex facing 19th St., with 4 total garages. This property would work well for someone looking for a private home with an income opportunity as well as an investor wanting an investment property. The front house is 1901 Magnolia and features 2 bedrooms and 1 bath with a detached 2 car garage and carport / driveway for 2 additional cars. It also has it's own private yard rear! 511 W. 19th and 515 W. 19th St. are the duplex addresses and they face onto 19th St. Both units are good sized 1 bedroom, 1 bath floorplans and each has it's own 1 car garage and 1 parking space in front of the garages. There's a common rear yard behind the duplex. All of the units are separately metered for electricity and gas, there are 2 water meters, 1 for the house and 1 for the duplex and each unit also has it's own washer and dryer hookups. Very good location with close access to parks, shopping areas, schools, the blue line and other public transportation as well as convenient freeway access to the 405 and 710 Freeways.

  • June, 2018

  • Jun 27, 2018

    Date

    Sold (Public Records)

    Public Records

    $658,000

    Price

Show More

Tax History for 1901 Magnolia Ave

Assessed Value (2020): $920,000
Year Land Value Improved Value Assessed Value
2020 $600,000 $320,000 $920,000

Home Value Compared to the Market

This property vs the competition

1901 Magnolia Ave sold on September 18, 2019 for 9.28% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $410.55 per/sqft which puts the price per square foot 34.63% lower than the current median sale per square foot for the city of Long Beach.

About 1901 Magnolia Ave

Detailed summary of property

1901 Magnolia Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 4 bedrooms, 3 bathrooms, roughly 2,180 living square feet, and sits on an approximately 7,900 square foot lot. 1901 Magnolia Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $920,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 9.28% higher than the current median priced home. Local homes that are currently for sale include 1339 Peterson Ave, 1824-1826 W Canton St and 2030 E Spaulding Way. While the average home in Long Beach, CA is selling in 62 days, 1901 Magnolia Ave has a days on market of 124 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1901 Magnolia Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1901 Magnolia Ave

Public county record property details
Beds
4
Baths
3
Year built
1938
Sq. Ft.
2,180
Lot Size
7,900
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
13
APN
7202-042-025

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,900
Median List Price/Sq.Ft.
$531
Median Sold Price
$920,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
20
Median Sale to List Price %
100%
Avg Days on Market
36
Loan Type
Conventional (100%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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